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  • Ministerial inquiry into the electricity industry
  • Overseas loans from Italian banks subject to foreign taxes
  • Unilever has agreed to buy Bestfoods of the US for approximately $20.3 billion in equity and an assumption of $4 billion in debt.
  • Bankruptcy law in Kazakhstan
  • Review of company law to examine public offering rules
  • Five law firms have been involved in the UK government's latest Private Finance Initiative financing deal, which closed on June 22. The project is to build new accommodation for Government Communications Headquarters (GCHQ), and is valued at £452 million ($683 million).
  • The Lithuanian government has sold a 25% stake in Lietuvos Telekomas, the country's exclusive telecom operator. The sale, valued at $180 million, represents the first capital markets transaction to come out of Lithuania, with global depositary receipts being listed on the London Stock Exchange.
  • Allen & Overy and Clifford Chance have been called in to work on Canary Wharf's latest securitization. On June 6 the property group closed the second significant securitization of its property assets, its first since December 1997. The issue raised £975 million ($1.5 billion) against future lease rental revenues in the London complex, employing an innovative revolving credit structure. The 1997 deal had raised £555 million.
  • Regulation of the European securities market was top of the agenda at the recent Capital Markets Forum Euro Seminar in Frankfurt. Some speakers chose to play it safe, but the European Central Bank's general counsel took the opportunity to lay his cards on the table. Rufus Jones reports.
  • Alan Berg, Tel Aviv-based consultant to Watson, Farley & Williams, discusses the Appeal Court's recent ruling in UPC v Deutsche Bank and argues that it is inconsistent with recent authority